An Important Message About The Value of Your House

Your house has many values - one to the tax assessor, others to your lender and insurance company, and yet another value to you, the owner.  It also has different values to perspective buyers ("market value") depending on their needs, desires, and financial resources.

The best price obtainable at any given time can only be determined by thoroughly and aggressively testing the market and challenging the competition.  In the final analysis, the market dictates value, based on current conditions, the current supply of buyers, and the current competition.

The price at which you choose to market your property will be, at best, an estimate of what you think those "test results" are likely to be once your house is placed on the market.  To assist you in the selection of a price, a Competitive Market Analysis will be prepared and is included in the customized Marketing Action Plan for your property.

Buyers engage in comparison shopping - The Comparative Market Analysis focuses on properties now on the market which are competing for the attention of those buyers.  In addition, houses that have recently sold and those that were on the market and did not sell are also examined.  These properties tell us what buyers in the recent past were and were not willing to pay.

The best price obtainable for your house will ultimately be determined by the market.  It is highly unlikely that a buyer will pay more for your property than could be paid for another property with similar amenities and features.  All other considerations aside, houses that do not meet the current competition in price and terms simply do not sell.  In fact, they may even help sell the competition!